Spurt in edible oil prices keeps stockists away

Our Correspondent Mumbai | Updated on August 02, 2013 Published on August 02, 2013


Imported palmolein and soyabean oil along with cotton oil has witnessed an uptrend on Friday. Palmolein and soyabean refined oil increased by Rs 3 and Rs 15 each. Cotton refined oil up by Rs 2 while groundnut oil dropped by Rs 10 despite steady reports from Saurashtra.

Sudden spurt in price kept stockists away from fresh bet, resulting in thin volume. About 150-200 tonnes of palmolein resale traded at Rs 527-529 for ready/nearby delivery.

Liberty quoted palmolein at Rs 535; super palmolein Rs 570 and super deluxe Rs 590. Ruchi quoted palmolein Rs 535, soyabean refined oil Rs 645 and sunflower refined oil Rs 805.

Allana quoted palmolein Rs 534- 537, super palmolein Rs 570, soyabean refined oil Rs 642 and sunflower refined oil Rs 800. Gokul’s rates were Rs 528.

In Rajkot, groundnut oil ruled steady at Rs 1,510 (Rs 1,510) for telia tin and loose 10 kg was Rs 975 (Rs 975). Soyabean arrivals declined to 20,000 bags at Rs 3,280-3,320 ex-mandi and Rs 3,430-3,450 for plant delivery. Mustard seeds arrivals also dropped to 50,000 bags and the prices were Rs 2,950-3,575.

On the National Commodities and Derivatives Exchange, soyabean refined oil September futures were higher at Rs 644.45 (Rs 639.90), Oct was up Rs 617.45 (Rs 615.55) and Nov increased to Rs 616.50 (Rs 615.60).

Malaysia BMD crude palm oil September futures closed lower at MYR 2,273 (MYR 2,280), October at MYR 2,257 (MYR 2,259) and November at MYR 2,254 (MYR 2,253).

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: Groundnut oil 970 (980), soya refined oil 640 (625), sunflower exp. ref. 720 (720), sunflower ref. 800 (795), rapeseed ref. oil 680 (680), rapeseed expeller ref. 650 (650) cottonseed ref. oil 640 (638) and palmolein 528 (525).

Vikram Global Commodities (P) Ltd has quoted Rs 590 for 10 kg Malaysian super palmolein for August delivery.

Published on August 02, 2013
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